For companies to meet and possibly exceed goals in customer service and profitability, it is imperative to have a demand planning strategy in place.
It is not a game of chance, although it often seems that many organizations have chosen to "guesstimate" their inventory needs. Others install features to assist with demand planning, but their intentions are often better than their implementations because they do not utilize the capabilities to their full potential.
The bottom line is that planning for future demand is truly not a game--it is a skill that relies on data collection and analysis. You have to know the issues, the drivers behind the issues, and the solutions for the best possible forecasting and inventory management.
Source: Industry Week
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